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when they vote for people to raise taxes. taxes in my mind, tax hikes are austerity. i'm not su why that is a perspective that isn't out there with the american people. what do you make of that? >> i think we have people that are not looking at how the greater economy affects them. free trade is good for america. it's good for working americans. yet we tend to be protectionist protectionists as we talk about our economy now growing rather than expand. don't talk about being competitive with the rest of the world and taxes. our tax rate are approaching the highest tax rates in the world and we have to be competitive with the world. this is about creating opportunities for growth rather than building walls and burdening others and thinking that you're not going to carry the burden. if you build the wall to deny someone to exercise a creative idea that will add jobs and create opportunities, you are denying an opportunity to grow. right now we are in a position where the united states is struggling to grow because we are overly protecting ourselves from failure. failure
when they vote for people to raise taxes. taxes in my mind, tax hikes are austerity. i'm not su why that is a perspective that isn't out there with the american people. what do you make of that? >> i think we have people that are not looking at how the greater economy affects them. free trade is good for america. it's good for working americans. yet we tend to be protectionist protectionists as we talk about our economy now growing rather than expand. don't talk about being competitive...
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Feb 6, 2013
02/13
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tax. aaron czajkowski has been one that's been so many years in baltimore. she treats patients suffering from crippling neck and back pain. over time, she discovered that she suffered from the very condition that she treats. she went in for surgery and god were she got her hip replaced. thankfully she's on the mend. obamacare makes it hard for those research innovation in the united states and patients like this woman to get the care that they need. obamacare unnecessarily raises the cost of health care. even those who have pre-existing conditions could get the coverage they need without a trillion dollar government program costing all of us more. that is only the tip of the iceberg when we talk about health care reform. many families like mine are dealing with the challenges presented by aging and very sick parents. they rely on medicare for relief. the government and medicare have not kept pace. medicaid is not doing any better. collectively, states are spending more on medicaid than the
tax. aaron czajkowski has been one that's been so many years in baltimore. she treats patients suffering from crippling neck and back pain. over time, she discovered that she suffered from the very condition that she treats. she went in for surgery and god were she got her hip replaced. thankfully she's on the mend. obamacare makes it hard for those research innovation in the united states and patients like this woman to get the care that they need. obamacare unnecessarily raises the cost of...
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Feb 2, 2013
02/13
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about tax hikes. is that the wrong message? >> yeah. it's the wrong message. let's go back to when toby was a teen-ager under calvin coolidge. [ laughter ] he took down woodrow wilson's high rate all the way down, created a huge boom. ronald reagan did the same thing. the democrats have railed against the bush tax cuts. they made them permanent. and now they realize oh, my goodness, we need revenue. here is the problem. this isn't just a blip. we have structural unemployment. we have the lowest labor force participation since the early '80s. that's more than a blip. that's structural unemployment and this country is not designed to handle that. we could double, 100% raise taxes on americans, we would take $1.1 trillion. we can't get there through tax increases alone. we have to deal with spending cuts cuts and entitlements. >> we do need growth. part of what the president has been talking about and the democrat social security creating a balanced package. there will be some spending cuts but there are
about tax hikes. is that the wrong message? >> yeah. it's the wrong message. let's go back to when toby was a teen-ager under calvin coolidge. [ laughter ] he took down woodrow wilson's high rate all the way down, created a huge boom. ronald reagan did the same thing. the democrats have railed against the bush tax cuts. they made them permanent. and now they realize oh, my goodness, we need revenue. here is the problem. this isn't just a blip. we have structural unemployment. we have the...
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Feb 6, 2013
02/13
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tax. with us today is erin shucosky. she has been a clinical nurse for 30 years in baltimore. she spent the last ten years coordinating the research on a study to approve a new replacement discs to treat patients suffering from crippling neck and back pain. over time, erin discovered that she suffers from the very condition that her work aimed to treat. on her days off, aaron would -- erin would spend time at her daughter's game, barely able to move, and then would have to good home and spend most of her time there with an ice pack on her neck. she went in for surgery and got the new disc replacements. erin is with is in a cervical color today -- cervical collar today but shes on the mend. the new medical device tax in obama care makes it harders for researchers to develop those devices in the united states and makes its hard for patients like erin to get the care they need. obamacare is unnecessarily raised the cost of health care. even those with preexisting conditions could get the cove
tax. with us today is erin shucosky. she has been a clinical nurse for 30 years in baltimore. she spent the last ten years coordinating the research on a study to approve a new replacement discs to treat patients suffering from crippling neck and back pain. over time, erin discovered that she suffers from the very condition that her work aimed to treat. on her days off, aaron would -- erin would spend time at her daughter's game, barely able to move, and then would have to good home and spend...
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Feb 9, 2013
02/13
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estate taxes, obamacare taxes and americans are taxed to death and proves dagen's point. there's a malaise and we saw it in consumer confidence means, now what, taxes aren't going to do the trick. >> you know, we shout a lot, but in here, we actually are getting into real disagreements how to solve problems. at the beginning gary said every program they run shall meaning the government is bankrupt. not the f.d.a., not f.a.a., not interstate highway system. we need our government we need to figure how to make it work not to say let's do away with it. >> i keep hearing they need more money for the interstate highway. see this debt mounting, is that why the administration just got suing. tdd#: 1-800-345-2550 like no atm fees, worldwide. tdd#: 1-800-345-2550 and no nuisance fees. tdd#: 1-800-345-2550 plus deposit ches with mobile deposit. tdd#: 1-800-345-2550 and manage your cash and investments tdd#: 1-800-345-2550 with schwab's mobile app. tdd#: 1-800-345-2550 no wonder schwab bank has grown to over 70 billion in assets. tdd#: 1-800-345-2550 so if you're looking for a bank
estate taxes, obamacare taxes and americans are taxed to death and proves dagen's point. there's a malaise and we saw it in consumer confidence means, now what, taxes aren't going to do the trick. >> you know, we shout a lot, but in here, we actually are getting into real disagreements how to solve problems. at the beginning gary said every program they run shall meaning the government is bankrupt. not the f.d.a., not f.a.a., not interstate highway system. we need our government we need...
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Feb 6, 2013
02/13
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two model income tax -- model tax and income tax and consumption tax. the author of that study was the deputy assistant secretary was basically pushing the consumption tax idea, and this book blueprints for basic tax reform was a very influential book, and a proposal. by the way to make casey think all the economists favor that to make a big influence on that was a harvard professor wedding -- also an advocate of the consumption tax. this resurfaced later in a proposal by senators nunn and beachy in the 1990's the usa tax , a second idea that was very popular with the so-called flat tax that was a book by professors hall at stanford originally published in 1982, a was not an original idea with them. it came from milton friedman book capitalism and freedom where he has a chapter of the ideal income-tax. the ideal income tax he describes is actually the flat tax which is actually consumption tax. the city was picked up by house majority leader dick armey and by presidential candidate steve forbes in the 1990's, again, like all these other plans to make di
two model income tax -- model tax and income tax and consumption tax. the author of that study was the deputy assistant secretary was basically pushing the consumption tax idea, and this book blueprints for basic tax reform was a very influential book, and a proposal. by the way to make casey think all the economists favor that to make a big influence on that was a harvard professor wedding -- also an advocate of the consumption tax. this resurfaced later in a proposal by senators nunn and...
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Feb 2, 2013
02/13
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i'm a citizen and pay taxes. i do not understand why i should be a second-class citizen. >> they were among the demonstrators. they cannot understand what anyone would have to fear from same-sex couples being given equal status with heterosexual couples. >> people say they are not homophobic, but they are against homosexuals. >> you hear stuff like that all the time. i do not understand any of this. this bill will not change anything in the minds of heterosexual. damage to c1 >> the dutch were once a proud seafaring nation, and over the centuries, they have become skillful at finding ways of living close to water. they've had to. almost half of the country lies below sea level, but the dutch have managed to keep their feet dry, thanks to a clever system of channels, bridges, and levees across the country. what is considered the oldest city in the netherlands was built on the banks of a river that was and still is good for trade, but it also makes the town very susceptible to rising water levels brought on by clim
i'm a citizen and pay taxes. i do not understand why i should be a second-class citizen. >> they were among the demonstrators. they cannot understand what anyone would have to fear from same-sex couples being given equal status with heterosexual couples. >> people say they are not homophobic, but they are against homosexuals. >> you hear stuff like that all the time. i do not understand any of this. this bill will not change anything in the minds of heterosexual. damage to c1...
SFGTV: San Francisco Government Television
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Feb 5, 2013
02/13
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SFGTV
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tax credits and how that will be applied. who you get into some of the larger entities there's bigger structures and that needs to be careful communicated so that when the time for outreach there's one package of information going out. so the tax and treasurers office have additional staffing for that >> commissioner reeling. >> so of a small business the gross receipt is less than 1 million it's exemption. >> right the first million is not exemption so if you will look at page 2. the whole 2 million is taxable >> yeah, but it's at a different taxable rate. so if you look at that page once you reach over a million that million is a taxable minimum >> so for schedule one 1.75 percent of - the first million is at - the 5 hundred thousand is taxable at the 1 point percent tax rate. >> commissioner. >> what about the businesses that are a combination of the manufacturing and other businesses structure. >> right so going back to i think i think this is where we need to work this out. we're not going out and educating businesses ri
tax credits and how that will be applied. who you get into some of the larger entities there's bigger structures and that needs to be careful communicated so that when the time for outreach there's one package of information going out. so the tax and treasurers office have additional staffing for that >> commissioner reeling. >> so of a small business the gross receipt is less than 1 million it's exemption. >> right the first million is not exemption so if you will look at...
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Feb 1, 2013
02/13
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LINKTV
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i'm a citizen and pay taxes. i do not understand why i should be a second-class citizen. >> they were among the demonstrators. they cannot understand what anyone would have to fear from same-sex couples being given equal status with heterosexual couples. >> people say they are not homophobic, but they are against homosexuals. >> you hear stuff like that all the time. i do not understand any of this. this bill will not change anything in the minds of heterosexual. damage to c >> the dutch were once a proud seafaring nation, and over the centuries, they have become skillful at finding ways of living close to water. they've had to. almost half of the country lies below sea level, but the dutch have managed to keep their feet dry, thanks to a clever system of channels, bridges, and levees across the country. what is considered the oldest city in the netherlands was built on the banks of a river that was and still is good for trade, but it also makes the town very susceptible to rising water levels brought on by clima
i'm a citizen and pay taxes. i do not understand why i should be a second-class citizen. >> they were among the demonstrators. they cannot understand what anyone would have to fear from same-sex couples being given equal status with heterosexual couples. >> people say they are not homophobic, but they are against homosexuals. >> you hear stuff like that all the time. i do not understand any of this. this bill will not change anything in the minds of heterosexual. damage to c...
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the next tax increase, will hurt. because they will be on the rest of americans, they will be very unpopular, that is what republicans need to say, these are not necessary, we have to deal with entitlements and spending. david: but tax changes do not have to hurt if they go in the right direct, get rid of some of the deductions, the last tax thing, it was not a bill it was a thing, that was put together by republicans, and president, about a month ago, it has so money different little clauses and brackets there is one provision this benefits only one company. that is not what our tax bill is supposed to be. >> you know, the thing about -- has made taxes easy for all of us, we go to you know one of on-line tax things we fill out our tax form we're done, it does not seem hard to us, but look at the changes we look at what happened at beginning of this year, people get their paychecks with high are payroll tax, people realize, the effects of time coming out of college they do not have businessed to hire them, they are fe
the next tax increase, will hurt. because they will be on the rest of americans, they will be very unpopular, that is what republicans need to say, these are not necessary, we have to deal with entitlements and spending. david: but tax changes do not have to hurt if they go in the right direct, get rid of some of the deductions, the last tax thing, it was not a bill it was a thing, that was put together by republicans, and president, about a month ago, it has so money different little clauses...
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it was a flat tax. those making over a hundred thousand dollars per year or 20,000 in today's money were taxed a whopping 3% rate. next year congress deciding it like this idea that people would just send money there wait introduced a sliding scale. those making about $10,000 or 229,000 canal would be attacked at 5%, and the idea of taxing the rich was born. guess what? the tax was repealed in 1866. congress decided they did not want free money anymore. that is, until 1994 when it tried to bring it back, but this time the supreme court stepped in calling the tax unconstitutional. so, or teeseven republican offer a constitutional amendment and 100 years ago yesterday deaware became the 306th state to ratify it and the income tax was official. so before you go cursing the lawmakers from 1913, the income tax looked a lot different than now. take a look at that. for starters, this is what the tax code looked like a century ago. thirty-eight pages. that's it. tiny. today it is nearly 74,000 pages with the to
it was a flat tax. those making over a hundred thousand dollars per year or 20,000 in today's money were taxed a whopping 3% rate. next year congress deciding it like this idea that people would just send money there wait introduced a sliding scale. those making about $10,000 or 229,000 canal would be attacked at 5%, and the idea of taxing the rich was born. guess what? the tax was repealed in 1866. congress decided they did not want free money anymore. that is, until 1994 when it tried to...
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Feb 6, 2013
02/13
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so the tax cut the income tax cut. the consumption tax area, if you think about what we do in terms of facing a benefits of the texas cement phasing out and making his eligible for all of our peas number of transfer systems we allowing income commander at going to allow consumption among a million dollars in income but you only consumed 10,000, so we're trying to give you an earned income tax credit. so we still rely upon the income system have all but the notion begin abandon income accounting and simplify and purify the tax system in this transfer systems over here that no longer have the income accounting is not going to work. the accountable care act. it was helpful for welfare reform and tax reform all at once because their is a huge knew tax system on income imposed upon people getting a subsidy. another dollar of income and after lose another $0.9 of health benefit. the notion you can convert to a consumption tax and now worry about these other accounting issues is somewhat of a myth. >> straight out of joe's bu
so the tax cut the income tax cut. the consumption tax area, if you think about what we do in terms of facing a benefits of the texas cement phasing out and making his eligible for all of our peas number of transfer systems we allowing income commander at going to allow consumption among a million dollars in income but you only consumed 10,000, so we're trying to give you an earned income tax credit. so we still rely upon the income system have all but the notion begin abandon income accounting...
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a new federal tax policy with the push to make marijuana legal and tax it. obama proposes to delay automatic spending cuts after he blows another budget deadline. and proved that leaders just want more power. not more power to the people. we are on the case. >> that and more coming up, but first the top story story, efforts building in washington to change change, rewrite, remake current marijuana laws including legalizing industrial production and have the federal pot tax. lawmakers quietly working on the bills one was introduced today one from oregon one from colorado calling for the end of federal pot prohibition. when next guest founder and executive director of the drug policy alliance, ethan? >> it is like the repeal of alcohol prohibition. the public says it does not work and is not effective and it cost tens of billions of tax dollars come lead diverts resources and funding organized crime in mexico it is better to have a regulatory policy with state governments controlled with federal government has a modicum of control. gerri: day you agree? >> a c
a new federal tax policy with the push to make marijuana legal and tax it. obama proposes to delay automatic spending cuts after he blows another budget deadline. and proved that leaders just want more power. not more power to the people. we are on the case. >> that and more coming up, but first the top story story, efforts building in washington to change change, rewrite, remake current marijuana laws including legalizing industrial production and have the federal pot tax. lawmakers...
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Feb 5, 2013
02/13
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FOXNEWSW
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then tax it. today, democrat lawmakers rolling out new legislation to regulate and tax marijuana in states where it is legal. congressman early bloomen is behind that push. welcome to the program. >> thank you. >> is a understand the proposal it would basically add a federal tax of roughly $50 per ounce and you believe that would bring in a total of $20 billion extra revenue per year. that sounds like -- must be an awfully big pot market in america. is it that big? >> well, estimates vary but the fact is that it is billions of dollars we spend to arrest two-thirds of a million people a year for something that half americans think should be legal, and two-thirds say let the states regulate it. stop the cost, it i can woo like lick tax alcohol, but money to reduce the deficit and we'd start having a more rational policy regarding marijuana. >> that would not bring the money in -- >> we don't know there are some estimates that suggest that the voters in colorado and the state of washington, by moving
then tax it. today, democrat lawmakers rolling out new legislation to regulate and tax marijuana in states where it is legal. congressman early bloomen is behind that push. welcome to the program. >> thank you. >> is a understand the proposal it would basically add a federal tax of roughly $50 per ounce and you believe that would bring in a total of $20 billion extra revenue per year. that sounds like -- must be an awfully big pot market in america. is it that big? >> well,...
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Feb 7, 2013
02/13
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CSPAN2
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tax, business tax variety. fairness issues, and simplicity issues are not often referred to, but they were the ones that were actually stressed in the blueprint volume. the idea of fairness that was a consumption tax better measured individual incomes to pay over somebody's lifetime. in contrast, an income tax for people with the same present value of lifetime income and income tax discriminates against people who consume later in life and discriminates, also, against people whose earnings patterns are such they earn earlier in life so they have to save more in order to smooth out their lifetime consumption. the other argument on grounds of simplicity is that if you didn't have an income tax, you don't have to worry about a will the of issues relating to the measurement of capital income such as what deappreciation rules to use, how to tax capital gains, the corporate income tax, inflation adjustments, if that's the problem, and so forth. plus, there were a number of reasons why people were concerned about thes
tax, business tax variety. fairness issues, and simplicity issues are not often referred to, but they were the ones that were actually stressed in the blueprint volume. the idea of fairness that was a consumption tax better measured individual incomes to pay over somebody's lifetime. in contrast, an income tax for people with the same present value of lifetime income and income tax discriminates against people who consume later in life and discriminates, also, against people whose earnings...
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which examines state local property and sales taxes and if you're going to look at taxes let's look at all the taxes right around the nation according to the results the poorest twenty percent of americans pay an effective tax rate of eleven point one percent middle twenty percent pay nine point four percent guess how much the top one percent pay just a measly five point six percent half the rate that the poor pay in some states around the nation like washington texas florida and south dakota which had no state income taxes the poor are paying tax rates six times higher than the top one percent. this disparity has a lot to do is states moving away from progressive income taxes and towards sales taxes which are regressive since working people spend one hundred percent of their income and are thus taxed on one hundred percent of their income the billionaires on the other hand can't possibly spend all their income no matter what so they're taxed on only part of the ring conservatives want you to believe that half the nation doesn't pay taxes and that half of the nation is called takers
which examines state local property and sales taxes and if you're going to look at taxes let's look at all the taxes right around the nation according to the results the poorest twenty percent of americans pay an effective tax rate of eleven point one percent middle twenty percent pay nine point four percent guess how much the top one percent pay just a measly five point six percent half the rate that the poor pay in some states around the nation like washington texas florida and south dakota...
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Feb 6, 2013
02/13
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what is the difference between a bedroom tax and disabled and the mansion tax? >> i don't accept that the bedroom tax is a tax but it is an issue about benefit on the fact is as a country we're spending 23 billion pounds on housing benefit. now, we have to have a debate in this country, and the last government said would have to have a debate in this country about getting on top of housing benefit. indeed, it's featured in the labour manifesto. the manifesto on which they were all elected. since they've moved to the opposition benches they have given up all sense of that responsibility at all. >> can the prime minister reconcile his recent comments on the need to accelerate major infrastructure projects for the government's decision to postpone a policy on airports until after the next election? will be reconsidered and bring that review forward? >> i will listen very careful to what my girlfriend said. i think you'll find if you looks at what and how davis said in terms of his review, he said this is a very propagated issue that merits proper examination that w
what is the difference between a bedroom tax and disabled and the mansion tax? >> i don't accept that the bedroom tax is a tax but it is an issue about benefit on the fact is as a country we're spending 23 billion pounds on housing benefit. now, we have to have a debate in this country, and the last government said would have to have a debate in this country about getting on top of housing benefit. indeed, it's featured in the labour manifesto. the manifesto on which they were all...
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you cou ...tax time can be...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. liz: welcome back. this is an important story. unions facing a big defeat this week. the national labor relations board communions they cannot protest in front of wal-mart for two months. they are saying that the unions picketed illegally in front of the big retailer and after wisconsin and michigan becoming right to work states. so is labor losing its punch? dd, what do you think? >> i do think the unions are dying and they are on their way out. indiana, my homes it is a right to work. and it's working. unions are job killers. losing companies left and i right to other companies and we just need to realize the unions are dead and they need to realize that read what they are is political pacs. liz: adam, what do you think? >> there's no question that humans are dying. the question is when they're going to die and how data will look. this is a pro
you cou ...tax time can be...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax. liz: welcome back. this is an important story. unions facing a big defeat this week. the national labor relations board communions they cannot protest in front of wal-mart for two months. they are saying that the unions picketed illegally in front of the big retailer and after wisconsin and michigan becoming...
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liz: i hear what you say, they do many get social security taxes detected and they pay sales tax, adam. >> they make a huge -- the immigrants that we're talking about legal and illegal, make a huge contribution to our economy, i'll say once again, we're a nation of imgraps it immigrants it makes me uncomfortable we fake that tontakethis tone this immie bad. >> i say that illegal is bad, i'm going to say it because, that is why we need a path to citizenship, that is a huge problem but don't say that illegal is good, and okay, and candy coat it, it is all about america. liz: adam, democrats and republicans both agree that the pass to citizenship is the way to fix illegal immigration. whether you want to put a value judgment on it, that is what is going on. >> i agree, and that is why we're -- we're having allege latest process, we're hoping to address all of the issues because they are important issues. and you can say that the other governments are meddles or poking their nose into our affairs, i would say they are weighing in on issues that are importanto them. as well they should. par
liz: i hear what you say, they do many get social security taxes detected and they pay sales tax, adam. >> they make a huge -- the immigrants that we're talking about legal and illegal, make a huge contribution to our economy, i'll say once again, we're a nation of imgraps it immigrants it makes me uncomfortable we fake that tontakethis tone this immie bad. >> i say that illegal is bad, i'm going to say it because, that is why we need a path to citizenship, that is a huge problem...
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money with a progressive income tax in any case your tax rate marginal tax rate goes up so the first ten thousand you make in the you know no taxes the next ten thousand certainly there and ultimately reaches a certain point a wealth tax is something we don't have in the united states many countries do but we don't and that's a tax where once a year you basically. present a balance sheet to the tax authorities saying ok the total net worth of what i have is you know five thousand dollars or five billion dollars and if it's above a certain threshold well taxes are almost always progressive if it's above you know a couple million one hundred million a billion whatever it may be then there's a tax on that and i am of the opinion this is our no billionaires dot com campaign that anybody who has a wealth of over one billion dollars with a million dollars a thousand times of their wealth is over a billion dollars there should be one hundred percent wealth tax on the money over that because if you can't live within a billion dollars you know come on give me a break in saginaw michigan hey e
money with a progressive income tax in any case your tax rate marginal tax rate goes up so the first ten thousand you make in the you know no taxes the next ten thousand certainly there and ultimately reaches a certain point a wealth tax is something we don't have in the united states many countries do but we don't and that's a tax where once a year you basically. present a balance sheet to the tax authorities saying ok the total net worth of what i have is you know five thousand dollars or...
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Feb 6, 2013
02/13
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tax hikes. i have three words for the gop on this one. please just say no. leave the cash in private hands so the economy can grow. don't let the government drain it for redistribution. here now howard dean and kate bailey hutchinson. is president obama worming out of this snink he's saying i want a third of the spending cuts and then i want to make it all up with tax revenues. did i hear that right or is there something else going on here? >> you heard it right. he said more tax increases and, you know, you come up with those budget cuts and i'll look at it. really, larry, it is just not moving at all. this is a time when the president should be sitting down every single day with the leaders of congress and saying where can we come together. but the republicans have got to take a stand and say no at shom point and every time they try to, it's the sky's falling, media and everyone saying we have to do something on sequester or the sky will fall. we have to do something on the debt ceiling or the
tax hikes. i have three words for the gop on this one. please just say no. leave the cash in private hands so the economy can grow. don't let the government drain it for redistribution. here now howard dean and kate bailey hutchinson. is president obama worming out of this snink he's saying i want a third of the spending cuts and then i want to make it all up with tax revenues. did i hear that right or is there something else going on here? >> you heard it right. he said more tax...
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Feb 2, 2013
02/13
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the difference between the tax rebate and tax cut is simple: who stands to benefit? giving $100 million back in the form of a tax rebate will return $400 to everyone with their primary residence in the state. when you put a check in the hands of montana taxpayers, they're going to take that money downtown and spend it at the small businesses along our main streets. if you take the $100 million and use it to cut property taxes, instead, the average montana homeowner would receive just $44 this year, not $400. think about that -- it will take 10 years for the taxpayer to get as much money back as they'll get this year with the rebate. yet, if you are a company like pp&l, the proposed tax cut would reward you with over $1 million this year alone -- 23-thousand times more than what the average homeowner would receive. if we consider who stands to benefit from our actions, the path we should take becomes clear. we have the opportunity to return money to hardworking montanans and create $100 million dollars of economic activity -- in montana. this rebate won't blow long-te
the difference between the tax rebate and tax cut is simple: who stands to benefit? giving $100 million back in the form of a tax rebate will return $400 to everyone with their primary residence in the state. when you put a check in the hands of montana taxpayers, they're going to take that money downtown and spend it at the small businesses along our main streets. if you take the $100 million and use it to cut property taxes, instead, the average montana homeowner would receive just $44 this...
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. >> so if there's no bank tax, are there fees that, you know, are being mistaken as a tax? i mean, is this going to cost the banks more money? >> we're going to move to a mark-to-market valuation at the end of the year. some financial products do not have that valuation now. we're going to bring them in to a more standardized tax policy, and so as a result that does raise some revenue, but overall tax reform is going to be revenue neutral. >> so tell me how you see this playing out in terms of the sequester going forward. do you think that -- i mean, is it a better idea to just have these automatic spending cuts where when you look at defense we don't know what missions are being compromises. we don't know, you know, where the cuts are going to hit in terms of our defense as a country. i mean, is that really the way to do it? >> no, i don't like the automatic approach, but months ago we have proposed a way to reorder those so we don't have automatic spending cuts, that in the first year we have a more balanced approach in terms of defense versus other spending. the presiden
. >> so if there's no bank tax, are there fees that, you know, are being mistaken as a tax? i mean, is this going to cost the banks more money? >> we're going to move to a mark-to-market valuation at the end of the year. some financial products do not have that valuation now. we're going to bring them in to a more standardized tax policy, and so as a result that does raise some revenue, but overall tax reform is going to be revenue neutral. >> so tell me how you see this...
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tempting business away from the highest taxed state in the country to his very low tax state. dominick says his own clients are very worried and worried sick looking for solutions and it looks like the lone star state might have some. religion may have clients who say we are frightened here in new york? >> we deal with a very unique client base. they have a fixed budget, certain amount of income in an annual basis. it is pa how to handle those dollars. the question is, is that the wisest use of my money? nine times out of 10, where do you move to? texas, nevada, florida. liz: governor jerry brown is saying i don't like what governor perry is doing, using some tricks here. he has it all wrong. california, we have great weather, venture capital, an educated workforce. don't go to texas, come to california. >> they also have a state income tax, highest in the country, they have a corporate income tax, the highest gas taxes in the country, our clients are going desert looking to move. california is a great place and if you can afford to be there, it is a wonderful place to live bu
tempting business away from the highest taxed state in the country to his very low tax state. dominick says his own clients are very worried and worried sick looking for solutions and it looks like the lone star state might have some. religion may have clients who say we are frightened here in new york? >> we deal with a very unique client base. they have a fixed budget, certain amount of income in an annual basis. it is pa how to handle those dollars. the question is, is that the wisest...
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let's evaluate tax rebates and tax cuts with our eyes wide open. [applause] i propose returning $100 million back to the pockets of montana home openers. homeowners. i recognize that others have suggested that we should use that $100 million to provide property tax cuts instead. the difference between the tax rebate and the tax cut is simple: who stands to benefit? given $100 million back in the form of a tax rebate will return $400 to everyone that has primary residence in the state. when you put a check in the hands of montana taxpayers, they're going to take that money down town, and they're going to spend it in the small businesses along main street. if you take that $100 million and use it to cut property taxes ip sed, the average montana homeowner would receive $44 this year, not $400. think about that. it will take ten years for the taxpayer to get back as much money as they'd get this year with a rebate. yet if you're a company like pp and l that proposed tax cut would reward you with over $1 million this year alone. that's 23,000 times mor
let's evaluate tax rebates and tax cuts with our eyes wide open. [applause] i propose returning $100 million back to the pockets of montana home openers. homeowners. i recognize that others have suggested that we should use that $100 million to provide property tax cuts instead. the difference between the tax rebate and the tax cut is simple: who stands to benefit? given $100 million back in the form of a tax rebate will return $400 to everyone that has primary residence in the state. when you...
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-- lean and taxes competitive, it is clear we have another problem, our own sales tax system. sales tax is the most critical source of revenue for core state programs. our sales tax code is also one of the most complicated in the nation. it is an accountant's stream, but a business owner's nightmare. -- dream, but a business owner's nightmare. so many twists and turns it that we make difficult for businesses to simply pay what they know. --we. -- what they owe. complaints can be nearly impossible. -- compliance can be nearly impossible. brenda serves customers all over the valley. she deals with a different sales tax code in every city in which she does business. thankfully, she was willing to lend her time and expertise last year when i convened a task force of retailers, business owners, and tax experts to offer recommendations on how we can simplify our tax system. linda is here today. linda, please stand. we are all grateful for your tireless efforts. [applause]but we must do more than simply think our small business owners. we can adopt concrete steps outlined by linda an
-- lean and taxes competitive, it is clear we have another problem, our own sales tax system. sales tax is the most critical source of revenue for core state programs. our sales tax code is also one of the most complicated in the nation. it is an accountant's stream, but a business owner's nightmare. -- dream, but a business owner's nightmare. so many twists and turns it that we make difficult for businesses to simply pay what they know. --we. -- what they owe. complaints can be nearly...
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unfortunately the president's version of tax reform is raising taxes and raising tax rates. we saw it in the beginning of the year. the senate followed suit. we're going to have to fight hard and convince the american people that it's our kind of tax reform that will produce a growing economy and yield more opportunity for more working families so their life can work again. >> eric cantor, republican from virginia. as always, sir, we appreciate you. >> thank you, larry. >> let's bring back our panel. keith, guy and david. keith, did you hear him say he was for the sequester? >> i think i heard that. >> i'm not sure. >> i think i heard it. i'm not sure what's going to happen. i heard earlier that -- he indicated there would be a sequester and no tax increase. >> that was my reading. boehner said the same thing today. did you hear him say, yes, there will be a sequester? >> no. i think he hinted at it. we have heard other republican leaders say that. i would have preferred to hear majority leader cantor say if the president cannot come together with us with other cuts we are a
unfortunately the president's version of tax reform is raising taxes and raising tax rates. we saw it in the beginning of the year. the senate followed suit. we're going to have to fight hard and convince the american people that it's our kind of tax reform that will produce a growing economy and yield more opportunity for more working families so their life can work again. >> eric cantor, republican from virginia. as always, sir, we appreciate you. >> thank you, larry. >>...
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taxes. tom: i lived in california a long time, i'm very familiar with prop 13, and everyone has been blaming prop train since it prop 13, it is not tax limitation that has kept seniors from being taxed out of their homes but the spending has been far more than revenues, it is a spending problem that we keep repeating in washington, they have it in sacramento. >> and aggravating the problem, it is a progressive tax system, if you earn more than $50,000, you pay 9.3% of your income in taxes, and more than a million a double down on the sim system, u pay 33%, the highest. tom: they know that people can't or won't pick up and leave. we're funny creatures, i think they knowb that about us, people don't go anywhere. >> well, that is true, however, that only to an e an extent, california has great weather, but if you can't afford it, and there are no jobs, a hundred thousand people are leaving each year. tom: and next door is nevada with a zero income tax that helps, but it does not have an ocean,
taxes. tom: i lived in california a long time, i'm very familiar with prop 13, and everyone has been blaming prop train since it prop 13, it is not tax limitation that has kept seniors from being taxed out of their homes but the spending has been far more than revenues, it is a spending problem that we keep repeating in washington, they have it in sacramento. >> and aggravating the problem, it is a progressive tax system, if you earn more than $50,000, you pay 9.3% of your income in...
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every dollar that it spends is taxed or borrowed and it is taxed from we the people. government spending is destructive to the economy. whether it is it discretioninary or not it needs to change now. >> it doesn't matter if it is. feven even if it is it a million bucks here and there. and eric it is worse than that. up said millions and millions, we are in the trillions. it is it an express of 3 trillion . a third of that is it being borrowed. we are spending way out of control and here is a bar chart. i don't know if you can see this right here. the dark part here is it what we are borrowing each year. that is a third of the amount much money . it is it outrageous and they can cut it in every place and they don't do it. >> you can stee the crazy thingings we are spending our money on. chinese swine study. 141,000. let's lookalt the next one. jordanian hooka habitings whampt is that? and reality tv show in india we spend 20 million and amtrak food beverages. 84 million. cram cramcongressman, we have a spending problem. ntake the labor department. you would think that
every dollar that it spends is taxed or borrowed and it is taxed from we the people. government spending is destructive to the economy. whether it is it discretioninary or not it needs to change now. >> it doesn't matter if it is. feven even if it is it a million bucks here and there. and eric it is worse than that. up said millions and millions, we are in the trillions. it is it an express of 3 trillion . a third of that is it being borrowed. we are spending way out of control and here...
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the taxes. and on those segments of the tax loopholes, talking about getting rid of tax loopholes that promote investment and jobs abroad. why should the taxpayers subsidize moving jobs abroad? let's get rid of those tax loopholes and let's invest more money in transportation and infrastructure. that will generate another million jobs. it's a net of two million jobs. and won't destroy through the sequestration and it will not destroy the economy, which is where we are headed otherwise. >> jim mcdermott and judy chu. >> thank you and it's good to be here with my colleagues to talk about a decent way to deal with the problems of this country. the republicans polled the word spending and found it to be a very effective word. if you listen to them, every sixth word they say is spending. now the problem with this country is not spending, because the republicans don't mind spending on useless wars or on tax giveaways or on programs they refuse to raise the revenue for, they don't like programs that he
the taxes. and on those segments of the tax loopholes, talking about getting rid of tax loopholes that promote investment and jobs abroad. why should the taxpayers subsidize moving jobs abroad? let's get rid of those tax loopholes and let's invest more money in transportation and infrastructure. that will generate another million jobs. it's a net of two million jobs. and won't destroy through the sequestration and it will not destroy the economy, which is where we are headed otherwise. >>...
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potentially valuable ones include the option to deduct state sales taxes instead of income taxes. so, make sure you have the receipts to get those breaks. you also have another way to lock in tax-free retirement income. under the new law you can convert a traditional 401(k) to a roth 401(k) at any time, assuming your company offers both options. you'll have to pay income taxes on the conversion but your withdrawals in retirement will be 100% tax-free, that's a good move if you're worried about taxes rising. the few taxes increases that did make the cut are on the highest earning households. that's for singles earning $400,000 a year and couples earning $450,000 or more. if you're fortunate enough to be in that group, your best move is to lower your taxable income by maxing out tax deferred options like your 401(k) and iras. of course, those are good moves to make in any year. i'm donna rosato. >> tom: that's "nightly business report" for wednesday, february 6. have a great evening everyone, and you too susie. >> susie: goodnight tom, thanks for watching everyone. we'll see you onl
potentially valuable ones include the option to deduct state sales taxes instead of income taxes. so, make sure you have the receipts to get those breaks. you also have another way to lock in tax-free retirement income. under the new law you can convert a traditional 401(k) to a roth 401(k) at any time, assuming your company offers both options. you'll have to pay income taxes on the conversion but your withdrawals in retirement will be 100% tax-free, that's a good move if you're worried about...
SFGTV: San Francisco Government Television
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Feb 4, 2013
02/13
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on that million but as long as your taxed - the first million is you're paying taxes on but if you're not making one million you're not taxed. >> as you keep going up the tier the one million is taxed on the section tier the taxable amount the tiers remain the same. prevents stepping so when i cross a boundary and the rate goes up or down there's no incontinuity. >> this goes in effect in 2014. there is one business who wants to hire but basically they'd have to wait until 2014 and there is a schedule the phase in schedule will still have 2014 is 10 percent is gross receipts the remaining will be payroll tax. the - if they're under $500 in pay role they may be able to apply the pay role exemption tax. >> there probably are some cases where your taxes will be greater than but if you're hiring people you're going to get it in the payroll see or the - you're going to pay the taxes in the year 2014 but if you want to make a determination if you wait i'll be able to avoid this. you'd want to know they might decide oh, the new tax is so moo much better for me, i think i'll wait. this is int
on that million but as long as your taxed - the first million is you're paying taxes on but if you're not making one million you're not taxed. >> as you keep going up the tier the one million is taxed on the section tier the taxable amount the tiers remain the same. prevents stepping so when i cross a boundary and the rate goes up or down there's no incontinuity. >> this goes in effect in 2014. there is one business who wants to hire but basically they'd have to wait until 2014 and...
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if you oh mention those words it will be tax, tax, tax. i will control the public dialogue and that's all we'll e talk about. guys, fold your cards now. that's what this is about. i don't think there will be more tax hikes this year. there's also not going to be spending reform. all the talk about tax hikes is obama's way of making sure that america doesn't deal with its true problem which is its spending problem. >> i will cross that bridge when i get to it. dave goldman, this didn't have a general market impact, but the federal government, the justice department, a couple of left wing attorneys general, they will all sue s&p. they're probably going to sue moody's. mcgraw hill fell. they will sue s&p for being credit dummies on mortgage-backed securities and collateralized debt obligations. i don't know. is this meritorious? it seems there is no law about being stupid. they were stupid. but if you can't show intent there is no law about stupid. why do this? >> you have e-mails from s&p officials saying we sold our souls to the issuers of
if you oh mention those words it will be tax, tax, tax. i will control the public dialogue and that's all we'll e talk about. guys, fold your cards now. that's what this is about. i don't think there will be more tax hikes this year. there's also not going to be spending reform. all the talk about tax hikes is obama's way of making sure that america doesn't deal with its true problem which is its spending problem. >> i will cross that bridge when i get to it. dave goldman, this didn't...
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many tax increases. difficult for them it's clear that the british government is in desperate need of cash to deal with the dismal public finances which means that by trimming a little bit of tax here and adding more tax burden that by twenty fifteen the u.k. treasury hopes to get an extra eighty four billion pounds in tax compared with the year before they came to power but critics say that once again is the british public which ends up out of pocket. artsy london. britain's happy with their leaders financial policies in france tens of thousands of public sector workers to the streets in the strike pay rises three. as long a salary freeze means almost a million civil servants struggling at minimum wages and in greece workers have gone on a two day strike with hundreds on the streets protesting against austerity measures that will make a deep cuts to their pay doctors support workers and public transport staff to part of a number of different demonstrations across the greek capital. fourteen year old and
many tax increases. difficult for them it's clear that the british government is in desperate need of cash to deal with the dismal public finances which means that by trimming a little bit of tax here and adding more tax burden that by twenty fifteen the u.k. treasury hopes to get an extra eighty four billion pounds in tax compared with the year before they came to power but critics say that once again is the british public which ends up out of pocket. artsy london. britain's happy with their...
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02/13
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this is yet another way to claim a tax break, and it's a tax break these corporations should never be getting in a fair society. so there's a lot of talk about more revenue. every democrat should be on board with this bill. let's turn to senator bernie sanders of vermont. senator, great to have you with us tonight. appreciate your time. >> good to be with you, ed. >> your bill tackles a number of issues, a number of problems. explain how the corporations are keeping profits offshore for us and how it's actually hurting the economy and what your bill would do to change all of this. >> ed, the debate right now in congress is whether or not we cut social security, medicare, medicaid, and other enormously important programs for the middle class. that's what the republicans want. what some of us want is to say wait a second, as you've just indicated, one out of four profitable corporations pays nothing in taxes. corporations in terms of their profits now, their rate is at 12%. the lowest since 1972. compared to europe, our corporate contribution to the tax revenue is the lowest of any majo
this is yet another way to claim a tax break, and it's a tax break these corporations should never be getting in a fair society. so there's a lot of talk about more revenue. every democrat should be on board with this bill. let's turn to senator bernie sanders of vermont. senator, great to have you with us tonight. appreciate your time. >> good to be with you, ed. >> your bill tackles a number of issues, a number of problems. explain how the corporations are keeping profits offshore...
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more taxes to avoid sequester cuts. we'll get reaction from the fox all-stars when we return. n't drr operate machinery until you feel fully awake. walking, eating, driving, or engaging in other activities while asleep, without remembering it the next day, have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations, or confusion. in depressed patients, worsening of depression, including risk of suicide, may occur. alcohol may increase these risks. allergic reactions such as tongue or throat swelling occur rarely and may be fatal. side effects may include unpleasant taste, headache, dizziness, and morning drowsiness. ask your doctor if lunesta is right for you. then find out how to get lunesta for as low as fifteen dollars at lunesta.com. there's a land of restful sleep. we can help you go there on the wings of lunesta. they're about 10 times softer and may have surface pores where bacteria can multiply. polident kills 99.99% of odor caus
more taxes to avoid sequester cuts. we'll get reaction from the fox all-stars when we return. n't drr operate machinery until you feel fully awake. walking, eating, driving, or engaging in other activities while asleep, without remembering it the next day, have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations, or confusion. in depressed patients, worsening of depression, including risk of suicide, may...
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a new federal tax policy. the latest push in congress to make marijuana legal and tax it. president obama proposes a short-term fix to delay automatic spending cuts one day after he blows another budget deadline. and the shocking proof union leaders just want more power, not power to the people. "the willis report" is on the case. all that and more coming up later, but first, the top story tonight, building in washington can change, totally remake current marijuana laws. including legalizing industrial production as well as establishing a federal pot tax. lawmakers on both sides of the aisle worked away on these bills, one of which introduced just today by two democratic congressman. both of them calling for an end to federal pot prohibition. will it work? joining us now, drug policy visor and founder and executive director of the drug policy alliance. starting with you. melissa: it is a lot like the appeal of alcohol probation. if it doesn't work, it is not effective and they say it is costing tens of billions of dollars every year, diverting precious law-enforcement reso
a new federal tax policy. the latest push in congress to make marijuana legal and tax it. president obama proposes a short-term fix to delay automatic spending cuts one day after he blows another budget deadline. and the shocking proof union leaders just want more power, not power to the people. "the willis report" is on the case. all that and more coming up later, but first, the top story tonight, building in washington can change, totally remake current marijuana laws. including...
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has them paying taxes. we were reviewing some statistics earlier where actually on the lower-skilled workers when you look at services consumed in taxes paid, they often times are net contributors to society, economically and otherwise. liz: well they're paying sales stacks. >> i don't think they're a tag at all.
has them paying taxes. we were reviewing some statistics earlier where actually on the lower-skilled workers when you look at services consumed in taxes paid, they often times are net contributors to society, economically and otherwise. liz: well they're paying sales stacks. >> i don't think they're a tag at all.